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Re: FBT - Disposal of a subsidiary during FBT year

Newbie

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Hi,

 

My company disposed a subsidiary (which we used to submit a standalone FBT return in prior years) during the last FBT year. 

In FBT 2021, am i require to lodge a return for this disposed company from 1 Apr 20 up to disposal date ?

 

Thanks

 

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Most helpful response

Devotee

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If the entity containing the business was sold, the FBT responsibility for the full year should be with the new owners of that entity.  If you sold a business, without selling the owning entity, you would need to lodge a part year FBT return.

 

 

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Most helpful response

Devotee

Replies 0

If the entity containing the business was sold, the FBT responsibility for the full year should be with the new owners of that entity.  If you sold a business, without selling the owning entity, you would need to lodge a part year FBT return.